Real Estate Fast Facts on the Comox Valley ⌂ In the 12 months ending April 30th, 2014 there were 1347 sales of all property types, a 9% increase over the same period in 2013. The highest number of annual sales was 2256 in 2007. The lowest was 879 in 1998. The twenty year average is 1504. 2014 is the seventh consecutive year of below average numbers of sales. ⌂ The 12 month average sale price of a Comox Valley home is $346,044, up 1% from 2013. The average lot price is $136,773, down 9%. If you purchased an ‘average’ home in 2004, you paid $211,308. If you bought an average lot in the same year, you paid $75,246. ⌂ Year-to-date 52 houses per month have sold. (For 2013 - 68, for 2012 - 68, 2011 - 66, for 2010 - 68, for 2009 - 73, for 2008 - 69, for 2007 - 100.) 71% of all residential sales occurred in the municipalities of Comox - 30%, Courtenay – 33%, and Cumberland - 8%. ⌂ Houses make up 63% of the 1005 residential properties currently offered for sale in the Comox Valley (condos – 30%, mobiles - 3%, duplexes – 4 %.) The current active inventory of all properties is 1448, down 5% from April 30th, 2013. ⌂ If you bought an average home in Cumberland in 2004 you paid $138,695. Today’s price is $297,229 (up 8% from 2013.). The largest local current price differential is between the old City of Courtenay ($274,409) and Crown Isle ($533,633). ⌂ So far in 2014, 11 houses have sold for less than $200,000. In 2013 – 47, in 2012 – 37, in 2011 – 36, in 2010 – 29, in 2009 - 37. There were ten sales over $1 million in 2008. In 2009 – three, in 2010 – one, in 2011 – two, in 2012 – none and in 2013 – five. Year to date in 2014 – two. The 12 month median price (half sales above, half sales below) is $327,900. ⌂ The year to date residential sales pattern in the Comox Valley shows that 39% of all sales occur between the price ranges of $250,000 and $350,000. Only 10% of residential sales are over $500,000. The 207 unconditional sales so far in 2014 were selected from an inventory of 632 single family dwellings, a list/sell ratio of 33%. Or put another way, one in three homes sold, up from one in five last month. ⌂ From “Building Links”. Construction activity is picking up in the Comox Valley and Campbell River region. During the first three months of this year, 71 new homes started construction compared to 58 during the same time period last year representing an increase of 22%. In the Town of Comox, three separate permits were issued for townhomes and duplexes to build 18 units for a total of $3,330,220. The construction values in Comox are $5.5 million compared to last year, when there was only $1 million in construction values, an increase of $4.5 million. The total construction values for the Campbell River, the Comox Valley and the CVRD have increased their total values from $28 million to $29.7 million during the first quarter. ⌂ Airport passenger numbers declined slightly in 2013 to 313,186 at YQQ partly due to unusual weather related flying conditions, the loss of one carrier providing seasonal service to Mexico, the extension of the runway and addition of WestJet services at the Nanaimo airport. The airport commission is vigorously pursuing a US code share airline for service to Seattle and a replacement for winter service to Mexico. In prior years more than 7000 passengers indicated a preference to flying directly from YQQ so that in five hours they were saying “Cervasa por favor” rather than “Will I make the next ferry?” ⌂ There are 163 REALTORS® in the Comox Valley among the 950 members of the Vancouver Island Real Estate Board. The peak in the Valley was 240 in 1993.

residential development, shopping centers, corporate businesses, and hotels while support businesses are in construction and property management.

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Becky Hagan

“Real Estate isn’t just about property, or houses it’s about People. People buy and sell homes, people who have hopes and dreams, wants and needs. People with unique lives, unique perspectives, unique challenges and goals.”